Good and bad news for the Euro | 11 November 2019
11 November 2019, EUR/USD
EURUSD trading plan:
Good and bad news for the Euro. We are expecting a technical correction in global stock markets today. This is good news for the Euro, as the Euro and stock markets are inversely correlated. The increase in yields on U.S. government bonds will force investors to lock in profits on long positions in the stock markets. The bad news for the Euro is a bearish rally in the precious metals market, as the Euro and gold correlate. The hopes for a trade deal remained alive on Friday, prompting gold to fall again for its biggest weekly loss in three years.
Trading recommendation: range 1.0982 -1.1041.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
